23rd Jul2010

Ocean Energy Institute Founder Says New Hurricane Will Require Gulf Evacuation

by iSpit

The U.S. National Hurricane Center has warned that a weather system near Cuba, centered between islands of Acklins and Great Inagua, may move into the Gulf of Mexico this weekend, reports Bloomberg this morning. “I am still worried about how it will move the oil slick into the coastal areas of Louisiana and Mississippi,” meteorologist Jim Rouiller said.

In response to the approach of the tropical cyclone, BP workers in the Gulf of Mexico have stopped drilling a relief well and are preparing to evacuate, reports the BBC. On Wednesday, National Incident Commander Thad Allen said a tropical storm in the area could push back the timetable 10 to 14 days.

Matthew Simmons, founder of the Ocean Energy Institute, told Bloomberg on Wednesday that a leak near the Deepwater Horizon site may require an evacuation of the Gulf coast if a hurricane strikes the area. “Some five to ten miles away is what the NOAA research vessels have proved is a deep oil leak that is growing by the day and it is very toxic oil and its gases are very lethal and basically if we have a hurricane now we need to evacuate the Gulf coast,” Simmons said.

(more…)

30th Jun2010

BP CEO Hayward Set For Massive $16 Million Payout If He Quits

by iSpit

BP CEO Tony Hayward is set for a massive 10.8 million pound ($16 million) payout if he chooses to step down, according to The Telegraph.

The sum, to be paid out in 500,000 pound annual installments ($742,700) could end up being higher, according to experts at Hargreaves Landsdowne.

This information comes to light just hours after it was revealed that BP’s own internal estimates have oil leaking out of the Deepwater Horizon site at 100,000 barrels a day.

BP is already pursuing debt auctions and asset sales to deal with the rising costs of the oil spill.

Via:

16th Jun2010

Obama Issues Executive Order Mandating “Lifestyle Behavior Modification”

by iSpit

White House Chief of Staff Rahm Emanuel is fond of saying, “You don’t ever want a crisis to go to waste; it’s an opportunity to do important things that you would otherwise avoid.” Well, the Obama Administration certainly has not let the British Petroleum (BP) Deepwater Horizon oil rig crisis go to waste, using it as a smokescreen to silently assault and further diminish American citizens’ personal freedom.

While the nation has its eyes and ears focused on the blame game ping-pong match between President Obama and BP top brass, President Obama on Thursday, June 10, quietly announced a new Executive Order establishing the “National Prevention, Health Promotion, and Public Health Council.”

Claiming the “authority vested in me as President by the Constitution and the laws of the United States of America,” President Obama has truly gone off the deep end this time in his most atrocious attempt to date to control every aspect of Americans’ lives.

According to Sec. 5. of the Executive Order that details the President’s “National Prevention and Health Promotion Strategy,” the Council will be charged with carrying out “lifestyle behavior modification” among American citizens that do not exhibit “healthy behavior.”

(more…)

Off
14th Jun2010

BP Chief Tony Hayward Sold Shares Weeks Before Oil Spill

by iSpit

Tony Hayward cashed in about a third of his holding in the company one month before a well on the Deepwater Horizon rig burst, causing an environmental disaster.

Mr Hayward, whose pay package is £4 million a year, then paid off the mortgage on his family’s mansion in Kent, which is estimated to be valued at more than £1.2 million.

His decision, however, means he avoided losing more than £423,000 when BP’s share price plunged after the oil spill began six weeks ago.

Since he disposed of 223,288 shares on March 17, the company’s share price has fallen by 30 per cent. About £40 billion has been wiped off its total value. The fall has caused pain not just for BP shareholders, but also for millions of company pension funds and small investors who have money held in tracker funds.

The spill, which has still not been stemmed, has caused a serious environmental crisis and is estimated to cost BP up to £40 billion to clean up.

There was growing confidence yesterday that a new cap placed over the well was stemming the oil flow. An estimated three million litres a day had been pouring into the sea off the coast of Louisiana since the April 20 explosion, damaging marine life.

The crisis has enraged US politicians, with President Obama yesterday forced to cancel a trip to Indonesia amid a row over the White House’s response.

Mr Hayward, whose position is thought to be under threat, risked further fury by continuing plans to pay out a dividend to investors next month.

Via:

  • I Am Not A Quote Of The Day

    Quotes and sayings
  • Authors

  • Pages

  • Facebook

    I Am Not A Rapper on Facebook

Switch to our mobile site